It definitely played a part in the cratering of the pps yesterday, and then there was also the support levels that were violated, for those relying on T/A. And then those using margin…..probably some margin calls too. Weeding out the weak hands I guess. We'll soon see how much short covering occurred.
On a side note, for those who have bashed Adam F. (theStreet), he's actually the voice of reason in the land of biotech pumpers. I used to think he was just a short tool, but now respect his skepticism in biotech land.